Crude Oil WTI

WTI crude oil prices are rising higher for a second day. Prices rose over 16% into Friday’s close, led by the optimism of an OPEC supply cut. At the time of writing, WTI crude oil prices are trading near the resistance level of 28.00.…
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Oil prices are caught in a bid, rising to a two-week high. The gains came after President Trump’s announcement about a possible OPEC supply cut. WTI crude oil rose to intraday highs of 27.31 before retracing some of the gains. Despite…
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Oil prices are trading slightly higher with prices rising modestly, by 1.50% intraday. However, prices remain strongly below the 22.00 handle meaning that there is still a downside risk. For the moment, price action is caught in the…
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Crude oil prices remain weak, although price action is somewhat on a stronger note. The commodity is slightly up 1.5% on the day. However, briefly, prices tested the 22.00 level. But, failure to breakout above this level is keeping…
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Oil prices are down over 6% on the day as price broke past the previous support of 22.00. On an intraday basis, oil prices fell to lows of 19.85 before pulling back modestly. The breached support area of 22.00 will now turn to…
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Oil prices gradually declined to fall back to the support area near the 22.00 handle. This marks a third attempt in the commodity near this level. So far, prices are holding up steadily. However, the bearish price action on the daily…
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WTI Crude oil prices are trading weaker, down over 4% on the day. This comes amid the trend line holding up as dynamic resistance. If the declines continue, then we expect a move lower back to the 22.00 level of support. With the…
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Crude oil price action remains modest with price erasing the gains made earlier in the day. Oil prices continue to remain slightly volatile in the near term. However, if the downside bias persists, we could expect oil prices to dip…
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Crude oil prices are not getting a respite from the selling. Price action remains heavily in favor of sellers, and the recent rebound was met with renewed declines. Crude oil could likely slip to the 28.00 handle in the near term.…
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Euro Supported by the Major Trend Line The common currency broke past the initial, steeper trend line. But it is finding support near the confluence of the major trend line and the horizontal support level. The price level near 1.1100…
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